Michael Hughes - Aug 12, 2021 Form 4 Insider Report for Mawson Infrastructure Group Inc. (MIGI)

Role: Director
Signature: /s/ Michael Hughes
Stock symbol: MIGI
Transactions as of: Aug 12, 2021
Transactions value $: $79
Form type: 4
Date filed: 10/12/2021, 03:03 PM
Next filing: Jun 22, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	MIGI	Common Stock	Conversion of derivative security	$80.1K	+23K		$3.48	23K	Aug 12, 2021	By Michael Hughes Family Trust	F1
holding	MIGI	Common Stock						1.61K	Aug 12, 2021	Direct
holding	MIGI	Common Stock						358K	Aug 12, 2021	By spouse

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	MIGI	Convertible Note	Conversion of derivative security	-$80K				0	Aug 12, 2021	Common Stock	23K	$3.48	By Michael Hughes Family Trust	F1, F2, F3

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	The convertible note converted on August 12, 2021, and the Issuer effected a one-for-ten (1:10) reverse stock split on August 13, 2021. The share numbers reflect the Reporting Person's post-reverse stock split holdings, such that the numbers are current as of the date of the filing. The conversion price for the convertible note is also adjusted to conform with the post-reverse stock split share amount.
F2	The earlier of (a) August 12, 2021; and (b) the admission of the Issuer's shares to quotation on the NASDAQ Stock Market.
F3	The Convertible Note is required to be repaid on earliest of: (a) a trustee, receiver or other custodian is appointed for the Issuer, or the Issuer makes a general assignment for the benefit of its creditors; (b) the Issuer files for bankruptcy (c) an involuntary petition is filed against the Issuer (unless such petition is dismissed or discharged within 60 days under any bankruptcy statute now or hereafter in effect or a custodian, receiver, trustee, assignee for the benefit of creditors (or other similar official) is appointed to take possession, custody or control of any property of the Issuer; or (d) the Issuer resolves to dissolve.